Centralized exchanges like Coinbase should get their business taken from them in this new era of decentralization. Not only do they trade against their clients and shut down withdrawals for no reason, but the people behind them aren't always the best examples of humanity. Binance is the one exception to this rule.
I'm not just saying this because I like Binance. I'm taking this from a completely dispassionate position. There are many reasons that the Binance exchange can, and possibly should, stay relevant even while DEXs get their just due.
Reason one. Binance has been the one exchange that has shown respect for what crypto is actually about — honesty in finance. You've never heard of Binance trading against its users, wash selling to pump up projects for friends, being racist to its employees or cutting off withdrawals. To the contrary, they've actually tried to help crypto users in various ways. The biggest example was when they took the time to first try to provide services to US users through the crippling regulation, then walk those same users through the transition when the US continued to be a piece of shit.
Reason two. The exchange has a robust and constantly expanding feature set. Yes, DEXs are taking on the shortcomings of Uniswap one by one. But each project seems to be focused on fixing one thing. Binance is the only platform that gives sophisticated traders a full set of tools right now.
Three. The exchange serves as a central hub for the launchpad and other features Binance uses to expand the crypto space. Being able to stake your alts for high-quality new project coins then immediately trade them for any other coin on the market is a convenience I don't see DEXs quickly implementing. The Binance exchange is also a great place to avoid the fees, annoying slippage and failed transactions of the Ethereum network.
Foury four. The team stays visible. You always know what is going on with Binance, so you can feel comfortable there won't be any black swan events. I don't leave my crypto on any exchange, including Binance, but I don't wake up in a sweat if I forget for a day or two.
Fif. CZ and the gang are always out in front of innovation. They are a great hub if you are a developer to promote your project and get funding. They also serve as a good arbiter of quality for projects. For those of us who don't have a few extra thousand to throw into DuckDao, Trustswap, YFDai or Polkastarter staking for early access, this is an unbeatable service.
Long live Binance and dEXs. Death to Coinbase and all these other shady exchanges.
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Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
